Permanent Magnet Market Growth 2018 by Top Manufacturers Hitachi Metals America, Ltd., Adams Magnetic Products, Arnold Magnetic Technologies, TDK, Electron Energy Corporation, VACUUMSCHMELZE

Considering applications, the permanent magnet market is bifurcated into three broad categories which include electronics, automotive and power generation. The electronics segment market share is likely to cross USD 10 billion with a growth rate of 10% by the end of the projected timeframe. In terms of volume, the automotive segment will hold a major chunk of share in the global permanent magnet market.

Based on the product, the permanent magnet market is segmented into four major segments namely, aluminum-nickel-cobalt alloy, samarium-cobalt alloy, neodymium alloy, and ferrite. The neodymium alloy holds a significant of nearly two third of the entire market share. Ferrite is the most cost effective of all and will foresee a market share of around 12 billion in 2024.

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Permanent Magnet Market is likely to exceed USD 50 billion by the end of 2024 according to this new research report.

The permanent magnet market is majorly driven by the automobile industry owing to its extensive use due to its properties such as energy conversion, repulsion, attraction, and magnetic field applications to direct, control and shape ion & electron beams in electronic systems. From 2013 to 2015, the global commercial vehicles and domestic cars production witnessed a growth from 87.5 million to over 90.5 million respectively. Increasing per capita disposable income coupled with the gradual development in the economies is likely to surge the automotive industry which in turn will boost the permanent magnet market share in the coming years.

- Permanent Magnet Market by Product

• Ferrite magnet
• NdFeB magnet
• SmCo magnet
• AlNiCo magnet

- Permanent Magnet Market by Application

• Automotives
• Electronics
• Energy generation
• Others

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On the basis of region, Asia Pacific, in 2015, held a significant share in the global permanent magnet market led by China due to the increasing electronics and automobile production. The country had a production capacity of windmills installed in excess of 145 GW which is about one third of the world. Registering a growth of 9%, North America accounted for over USD 4 billion in the same year.

This growth is likely due to the United States, as in 2015, the commercial vehicles and domestic cars in the country accounted in excess of 12 million. The United States also registered a growing energy installation capacity in excess of 75 GW and is likely to increase in the future.

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Some of the major players present in the global permanent magnet market include Adams Magnetic Products, Hitachi Metals, Hangzhou Group, Arnold Magnetic Technologies, Electron Energy Corp, and TDK Corporation.

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